MUMBAI – India’s Aditya Birla group’s credit, investment and insurance businesses are expected to grow 19%-21% in the next three to five years, the cement-to-retail conglomerate’s chairman Kumar Mangalam Birla said on Tuesday.
“The three leading components of our financial services model – credit, investment and insurance – are expected to grow at a CAGR (compounded annual growth rate) of anywhere from 19% to 21% over the next three to five years,” Birla said.
Birla was speaking at an event in Mumbai, where the group’s financial services arm Aditya Birla Capital unveiled a digital application called ABCD, with an aim to acquire 30 million customers in the next three years.
